Current Affairs – August, 2018

Latest Current Affairs August, 2018 with Current Affairs, news summary on current events of National and International importance of August, 2018 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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First SAARC Agri Cooperative Business Forum held in Kathmandu, Nepal

The first South Asian Association for Regional Cooperation (SAARC) Agri Cooperative Business Forum was held in Kathmandu, capital of Nepal The theme of this forum was ‘Organizing and Strengthening Family Farmers’ Cooperatives to attain the Sustainable-Development-Goals-1 and 2 in South Asia’.

SAARC Agri Cooperative Business Forum

It was co-organized by Food and Agriculture Organization (FAO) of United Nations and Asian Farmers’ Association with the support from International Fund for Agricultural Development. It provided platform to bring together representatives both from government and non-governmental entities from member states of SAARC as well as from regional and international organizations.

South Asian Association for Regional Cooperation (SAARC)

SAARC is regional intergovernmental organization and geopolitical union of nations in South Asia. Its member states include Afghanistan, Bangladesh, Bhutan, India, Nepal, Maldives, Pakistan and Sri Lanka. It comprises 3% of world’s area, 21% of world’s population and 3.8% of global economy as of 2015. It was established in Dhaka, Bangladesh on 8 December 1985. Its secretariat is based in Kathmandu, Nepal. It promotes development of economic and regional integration. It also maintains permanent diplomatic relations at United Nations as an observer.

Month: Categories: International

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ADB to provide US $375 million loan for Madhya Pradesh Irrigation Efficiency Improvement Project

Union Government has signed $375 million loan agreement with Asian Development Bank (ADB) for Madhya Pradesh Irrigation Efficiency Improvement Project. The project will contribute to double farming incomes in Madhya Pradesh by expanding irrigation networks and system efficiency.

Madhya Pradesh Irrigation Efficiency Improvement Project

It will develop 125,000 hectares of new, highly efficient and climate resilient irrigation networks. It will also improve water use efficiency in more than 400 villages and benefit over 800,000 people in the state. It will also support institutional innovations through introduction of design-build-operate contracting approach. It will also help farmers to adopt micro-irrigated agriculture including high-value crops. The ADB funds will be used to develop a large-scale pressurized and automated irrigation system for boosting irrigation efficiency.

It focuses on two large irrigation systems

  • Kundalia irrigation project: It will develop 125,000 ha of new and highly efficient and climate resilient irrigation networks. The work that will be undertaken includes building two large pumping stations pumping water to distribution chambers where water will be distributed through a network of buried pipes to farm outlets.
  • Sanjay Sarovar Irrigation Project: Under it comprehensive modernization feasibility study will be prepared and other preparatory work for soundly designed project.

Asian Development Bank (ADB)

ADB is a regional development bank based out of Asia. It aims to promote social and economic development in Asia by achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.

It was established in December 1966. It is headquartered at Ortigas Centre in Manila, Philippines. ADB’s main objective is to assist its members and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development.

It has total 67 members, of which 48 are from within Asia and the Pacific and 19 outside. ADB has been modelled closely on the lines World Bank. It has similar weighted voting system where votes are distributed in proportion with members’ capital subscriptions.

Month: Categories: National

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